Cobalt Capital Management Inc. Invests $13.97 Million in Alphabet Inc. (NASDAQ:GOOG)

Cobalt Capital Management Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,000 shares of the information services provider’s stock, valued at approximately $13,965,000. Alphabet comprises about 4.2% of Cobalt Capital Management Inc.’s holdings, making the stock its 7th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. SWS Partners acquired a new stake in Alphabet in the 1st quarter valued at $28,000. Rational Advisors LLC acquired a new stake in Alphabet in the 1st quarter valued at $28,000. IAG Wealth Partners LLC increased its holdings in Alphabet by 120.0% in the 1st quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 6 shares in the last quarter. Rather & Kittrell Inc. acquired a new stake in Alphabet in the 4th quarter valued at $34,000. Finally, Westchester Capital Management Inc. acquired a new stake in Alphabet in the 1st quarter valued at $36,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 34,799 shares of Alphabet stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares in the company, valued at approximately $2,185,733. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,036 shares of company stock valued at $15,564,998. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $111.78 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $114.47 and its two-hundred day moving average price is $120.25. Alphabet Inc. has a 52-week low of $102.21 and a 52-week high of $152.10. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 20.80, a P/E/G ratio of 1.77 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the prior year, the business earned $27.26 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. Piper Sandler lowered their price target on Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $140.00 price target on Alphabet in a report on Thursday, July 21st. Citigroup lowered their target price on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Cowen lowered their target price on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Finally, Itau BBA Securities initiated coverage on Alphabet in a research note on Tuesday, July 26th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $158.05.

Alphabet Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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